<ARTICLE> 5 <MULTIPLIER> 1,000 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> MAR-31-1998 <EXCHANGE-RATE> 1 <CASH> 2,259 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 34,455 <DEPRECIATION> 4,795 <TOTAL-ASSETS> 32,380 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 8,258 <TOTAL-LIABILITY-AND-EQUITY> 32,380 <SALES> 0 <TOTAL-REVENUES> 2,191 <CGS> 0 <TOTAL-COSTS> 1,653 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 474 <INCOME-PRETAX> 64 <INCOME-TAX> 0 <INCOME-CONTINUING> 64 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 64 <EPS-PRIMARY> 3.40 <EPS-DILUTED> 3.40